India a bright spot in times of global crisis: PM Modi

New Delhi: In the times of a “global crisis,” India is being called a “bright spot” by economic experts and analysts across the globe and the world has huge expectations from the country, Modi said Wednesday while delivering the inaugural address at the three-day Global Investors’ Meet, ‘Invest Karnataka 2022’, at Bengaluru via video conferencing.

Asserting that the world is “convinced about the fundamentals of the Indian economy in these uncertain times”, PM Modi said, instead of trapping the investors in the “red tape”, his Government has created “an environment of the red carpet for investment”.

Karnataka Governor Thawaarchand Gehlot, Chief Minister Basavaraj Bommai, Union Ministers Nirmala Sitharaman, Piyush Goyal, Pralhad Joshi, and Rajeev Chandrasekhar were among those present at the function.

“Building a new India is possible only with bold reforms, big infrastructure, and best talent”, he said. While pitching the state as the destination for investors, he said Karnataka also has the power of a “double engine”, with the same party in the government at both the State and Centre.

“Last year, India got about $84 billion dollars of record FDI. This is an achievement amid post-COVID and war-related situations across the globe,” PM Modi said. India is continually working on its fundamentals so that the economy becomes much stronger, he added.

Claiming the country was suffering from a crisis at the policy level 9-10 years ago, Modi said, “Instead of pushing investors into the web of red tape, we created an atmosphere of the red carpet for investment.”

Listing out the measures taken, and achievements made towards reforms, infrastructure, and talent or skill, he said only with the focus on investment and human capital, progress can be achieved.

Image courtesy of (Image: PIB)

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